Bregal Milestone backs Greenstorm

The investment was drawn from Bregal Milestone's €400m fund, which closed in July and targets non-control positions in European companies. The fund invests between €20-60m per company, structured as growth capital, debt or equity.

The fresh capital will be used to expand Greenstorm's geographic reach and further develop its product offering.

Company
Greenstorm was founded in 2009 and is headquartered in Kufstein, Austria. The company hires out electric bikes and other vehicles to hotels, corporates and retailers in Austria, Italy, Germany, Switzerland, Croatia and Slovenia.

The business generated sales of €11.2m and employed 52 people in 2017, according to Austrian press reports. The company reported  revenue growth of 700% between 2013-2016.

People
Bregal Milestone – Jan Bruennler (managing partner).
Greenstorm – Richard Hirschhuber Philipp Zimmermann (co-CEOs).

Advisers
Equity – Shearman & Sterling (legal); Dorda Rechtsanwälte (legal); EY (financial due diligence); Deloitte (financial due diligence); OC&C (commercial due diligence).
Company – Reed Smith (legal); Eisenberger & Herzog (legal).

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• Topics
• Expansion
• DACH
• Consumer
• Austria
• Bregal Investments